10:00 AM EDT, 07/11/2024 (MT Newswires) -- Kits Eyecare ( KTYCF ) announced Thursday a weekly record for new customer acquisition of $1.2 million, the second weekly record in as many weeks. The company says it is acquiring more than $1 million of organic, recurring business per week.

An expansion of its branded contact lenses and direct billing partnerships with insurance providers covering up to 70% of Canadians has helped increase sales, the company said.

As of the first quarter of this year, KITS has had over 870,000 active customers, with over 60% of revenue coming from repeat customers.

"We're excited that a record number of new vision-corrected customers have joined KITS," said Roger Hardy, Co-Founder and CEO of KITS. "Momentum has been steadily building and continues to accelerate. Many of these new customers joined after hearing about KITS from others, so this increase in new revenue did not require an increase in marketing spend."

KITS was at last look down $0.05 at $8.95, but remains at the high end of its 52 week trading range.

Price: 8.95, Change: -0.05, Percent Change: -0.56